|
|
|
|
|
|
|
|
|
|
Previous: TRAVELCENTERS OF AMERICA INC, S-4, EX-10.21, 2000-12-21 |
Next: TRAVELCENTERS OF AMERICA INC, S-4, EX-21.1, 2000-12-21 |
<PAGE> 1
Exhibit 12.1
TRAVELCENTERS OF AMERICA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<TABLE>
<CAPTION>
NINE MONTHS ENDED
YEAR ENDED DECEMBER 31, SEPTEMBER 30,
------------------------------------------------------- -----------------
1995 1996 1997 1998 1999 1999 2000
---- ---- ---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C>
HISTORICAL DATA:
----------------
Income/(loss) before income taxes $ 16,540 $ 8,882 $ (553) $ (6,278) $ 1,181 $ 1,345 $ (4,975)
Undistributed equity income of less
than 50% owned investee -- -- -- -- -- -- 482
-------- -------- -------- -------- -------- -------- --------
16,540 8,882 (553) (6,278) 1,181 1,345 (5,457)
-------- -------- -------- -------- -------- -------- --------
Fixed charges:
Interest expense 22,674 22,072 26,418 28,285 38,944 29,029 32,377
Portion of rentals representative
of interest factor(A) 1,033 1,152 1,856 2,248 3,192 1,871 3,793
Amortization of debt discount 209 209 52 26 106 79 81
-------- -------- -------- -------- -------- -------- --------
Total fixed charges 23,916 23,433 28,326 30,559 42,242 30,979 36,251
-------- -------- -------- -------- -------- -------- --------
Earnings before income taxes,
equity income of investee and
fixed charges $ 40,456 $ 32,315 $ 27,773 $ 24,281 $ 43,423 $ 32,324 $ 30,794
======== ======== ======== ======== ======== ======== ========
Ratio of earnings to fixed charges 1.7 1.4 (B) (B) 1.0 1.0 (B)
======== ======== ======== ======== ======== ======== ========
PRO FORMA DATA:
---------------
Income/(loss) before income taxes $ (9,968) $ (8,763) $(16,131)
Undistributed equity income of less
than 50% owned investee -- -- 482
-------- -------- --------
(9,968) (8,763) (16,613)
-------- -------- --------
Fixed charges:
Interest expense 43,058 43,653 56,427
Portion of rentals representative
of interest factor(A) 3,909 2,476 3,999
Amortization of debt discount 1,059 786 886
-------- -------- --------
Total fixed charges 48,026 46,915 61,312
-------- -------- --------
Earnings before income taxes,
equity income of investee and
fixed charges $ 38,058 $ 38,152 $ 44,699
======== ======== ========
Ratio of earnings to fixed charges (B) (B) (B)
======== ======== ========
</TABLE>
(A) One-third of rental expense represents an appropriate interest factor.
(B) The company was unable to fully cover the indicated fixed charges in
these periods.
|
|